DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/74f016/germany_petrochemi) has announced the addition of the "Germany Petrochemicals Report Q3 2011" report to their offering.
The Germany Petrochemicals Report provides industry professionals and strategists, corporate analysts, petrochemical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Germany's petrochemicals industry.
BMI's latest Germany Petrochemicals Report is confident about the outlook for the industry, forecasting output growth of around 4%, up from 2.5% forecast in the previous quarterly report.
The business environment is favourable with a strong start to 2011 reported by producers, who are unanimous in their belief that the year will see more growth although not at the 11% rate reported in 2010. However, BMI warns that risks still remark with increased market volatility. Reducing costs and increasing efficiency will therefore remain a priority for German plants in order to remain flexible. Rising raw material costs will also remain a challenge, although prices are not expected to rise at the 20-25% rate seen in 2010. Growth in German chemicals industries will be weighed down by low overall industry capacity utilisation, poor demographic trends, fiscal austerity and weak wage growth.
In 2010, exports led the recovery with growth of 20% y-o-y to EUR99.6bn, which was above the pre-crisis level in 2007. However, 2011 is set to witness increasing importance of the domestic market. This will be assisted by robust economic performance with leading economic indicators support the above consensus growth forecast of 3.0% for Germany this year. Domestic sales were up 14% in 2010, to EUR71bn, with domestic demand still 10% below pre-crisis levels. Growing confidence in the sector led to a 5% rise in investment in chemical plants, to EUR6.4bn. However, with expectations for future growth starting to moderate, amid the prospect of interest rate hikes and rising oil prices, BMI also holds to the 2.0% growth forecast for 2012, expecting slower growth in H211.
Companies Mentioned:
- BASF Aktiengesellschaft (BASF)
- BP Refining And Petrochemicals GmbH
- Lanxess
For more information visit http://www.researchandmarkets.com/research/74f016/germany_petrochemi